Equitas Small Finance Bank said on Thursday, April 23 that the Reserve Bank of India has approved the re-appointment of Vasudevan P N as its Managing Director and Chief Executive Officer.
As per the exchange filing, company added that the approval, received on April 23, 2026, grants a fresh term of three years, effective from July 23, 2026, in accordance with applicable regulatory provisions.
Earlier on April 15, the SFB had informed to exchanges that its board of directors will meet on April 30, 2026, to consider and approve the audited financial results for the quarter and financial year ended March 31, 2026, in accordance with SEBI listing regulations.
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The SFB had reported a robust performance in the December quarter, with net profit rising 35.8% year-on-year to ₹90 crore, compared with ₹66.3 crore in the same period last year. Revenue grew a modest 4.1% to ₹851.6 crore.
The lender’s asset quality continued to improve, with gross NPAs declining to 2.75% from 2.92% sequentially, while net NPAs eased to 0.92% from 0.98%. Credit costs reduced sharply to 1.88%, aided by lower slippages, which fell 126 basis points quarter-on-quarter to 2.52%.
Disbursements touched an all-time high of ₹6,557 crore, marking a 28% year-on-year and 22% quarter-on-quarter growth. The small business loans book expanded 14% year-on-year, led by a 22% rise in secured business loans. Used car and used commercial vehicle advances grew 36% and 23%, respectively.
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Ahead of the announcement, shares of Equitas Small Finance Bank Ltd closed at ₹66.10 on the NSE on April 23, rising ₹0.87 or 1.33% for the day.